Ray Dalio says it took more than great returns to turn Bridgewater Associates into the world’s largest hedge fund. It took principles — prescriptive rules for life and business that Dalio established over four decades. The principles are what make Bridgewater unique, and unusual. Dalio has published them in a book, along with his life story.
Principle Number One: Trust in Truth
Realize that you have nothing to fear from truth.
Create an environment in which everyone has the right to understand what makes sense and no one has the right to hold a critical opinion without speaking up about it.
Be extremely open.
Have integrity and demand it from others. Never say anything about a person you wouldn’t say to them directly, and don’t try people without accusing them to their face. Don’t let “loyalty” stand in the way of truth and openness.
Be radically transparent. Record almost all meetings and share them with all relevant people.
Don’t tolerate dishonesty. Don’t believe it when someone caught being dishonest says they have seen the light and will never do that sort of thing again